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If you want to increase the amount of living space in your home, remodeling your basement makes a lot more sense than adding on a new addition. A finished basement has an ROI of around 70%, making it one of the better investments you can make in your home. A typical basement remodel costs around $90 a square foot, assuming moderate decor and finishes. With the average project size of 600 square feet, this puts the cost of the average basement remodel around $55,000.
Of that amount, $15,000 on the labor cost and the rest on material. all walls demolished, cracks in the wall fixed, then insulated and rebuilt, new windows, new electricity wiring, new floor tiling, new web bar, new stairs build from scratch replacing the old. Also, built two closets, one with shelves and the other for clothe-hanging, two utility rooms, one of them where the burner is fire proofed, all walls plastered and painted, wood stained etc. The contractor worked 10 hours a day and finished the entire project in five weeks! (I cooked lunch and provided cold drinks.) could have build a bathroom for $3000, but I decided to do that another time.
Add to this any custom work that you may want to have done to turn the basement into the type of room you have in mind, and the labor could continue to mount. Most people also find that they need a painter ($20-$35 per hour), and in older homes, asbestos 10 testing and removal ($1,500) is also recommended before the work can begin. For these reasons, many homeowners often choose to use a basement finishing system, which often has one set price for materials and labor (around $50,000 per basement) and decorate later as they choose.
Since this basement is not entirely underground - it includes a walk-out entrance on one side -- new egress windows bring natural light into the basement. A simple Roman shade in fun fabric softens the space and brings all the colors of the room together. Egress windows provide an emergency exit; most building codes require one in every bedroom and in habitable basements. Adding one will likely increase the value of a home, as it provides safety, natural light, and increased airflow.
Sourcing supplies, clearing debris, and doing prep work can all help you save on basement costs. Consider what skills you have and talk with your contractor about what will shave money in each area. You may have the tools and strength to demo walls, which can save you several hundred dollars. Sourcing the materials for the pro takes this task off their labor time and saves you money. Doing prep work and finish work is also a way to cut down on total cost. Painting the walls yourself at the end of the project could save you hundreds of dollars. Negotiate all these aspects before signing your contract.
House plans with basements are desirable when you need extra storage or when your dream home includes a "man cave" or getaway space, and they are often designed with sloping sites in mind. One design option is a plan with a so-called day-lit basement -- that is a lower level that's dug into the hill but with one side open to light and view. This lower level can open to a covered outdoor space below an upstairs deck or porch. As a result, these types of designs are sometimes called house plans with walkout basements or walkout basement house plans. To see more basement plans try our advanced floor plan search.
Accounting for variables such as square footage, materials, electrical and plumbing, the average basement remodel ranges from $11,034 and $29,226. Some cost as little as $5,000, with top of the line remodels costing over $40,000. The average cost to homeowners is $20,126. Expect to spend between $10 and $35 per square foot depending on the changes made.
A remodeled basement gives you additional living space without changing the footprint 1 of your home. Basements can be remodeled to become in home theaters, children’s playrooms, entertainment areas, and family game rooms. Because the steps to finish the basement are similar for most of these purposes, you can gain a lot of additional space and use from your home simply by finishing this area.
When it comes to basement remodels, the most costly way is to start with bare bones. If all you have is concrete walls and floors, you need to add framing, electrical, plumbing, flooring and trim. Basement finishing in a newer home that already has plumbing and electrical roughed in, a watertight foundation and some insulation installed—but no final finishes (like drywall or paint or carpet)—usually costs less than remodeling an already finished basement. This is because when you already have a finished basement, the pros will need to do demolition at the beginning of the project, which can add $500–$1,500 to overall costs.
Another important part of finishing your basement is choosing the right walls. Basements have concrete walls and floors, but once they’re waterproofed, you can design the entire space with new walls and floors to completely transform the space. As with flooring, choosing the right basement walls can also affect the final price of your basement transformation. False walls are common and can be customized to meet your needs while keeping the original concrete walls is an option for others. Keeping your concrete walls is a cheaper option, but false walls provide more customization. In the end, it all comes down to what you’re looking for.
You've finally decided to do something with that empty basement space. That's half the battle right there. So what do you consider first? The number one thing to start planning your basement is what will it be used for? Do you just want a large finished space to add square footage, do you need more bedrooms, or do you want that great "play" space with a bar and pool table? Addressing what function you want the basement to provide is the foundation for how you will proceed. Some of the considerations which may affect what you do with your space are: Budget - Do this first, figure out the most you can afford to spend, then create a design that includes everything you want. After you get bids, and material costs, you can add or subtract things to meet your budget.
A basement can serve many purposes in the home. Finished basements can add extra rooms to your home, whether it’s a TV room for your family to enjoy movies or an extra bedroom. Both unfinished and finished basements can work as extra storage spaces for your home or even serve as a home gym. Regardless of your basement finishing, there are a number of basement design ideas that can help you with your remodeling. A little research is the first step in basement remodeling. It is also a great way to find finished basement ideas.
Hardwood, laminate and tile flooring significantly increase the cost to finish a basement. Sebring, who calls carpet “the king of basement flooring,” says many people are scared about the consequences if a carpeted basement floods. But even top-of-the-line vinyl and tile has to be pulled up if there’s serious water damage, he says, and you can replace carpet multiple times for the same cost of installing hard flooring once.
But beforehand you’ll want to prep the brick or masonry walls by building a simple wooden framework against them that you will use to attach the paneling or gypsum board (another name for sheetrock).Do that by attaching 2-inch by 2-inch furring strips to the walls. These are inexpensive and lightweight lengths of wood that look kind of like skinny versions of traditional two-by-fours.
The average cost of basement remodeling varies based on the square footage of the basement space, if structural changes are needed, and if you are adding in elements such as electrical work for a kitchenette or plumbing for a half bath. Other factors in cost include whether you have design plans already and what work you want done on the finishes such as trim and flooring. Here’s a breakdown of the various cost factors.